Do you know what an MBA is and what it is for?
If you are a student of careers related to administration, finance and economics, you have surely wondered what an MBA is and what it is for, or even if you are studying a program in other areas of knowledge.
You should keep in mind that expanding your knowledge in areas of administration will help you grow in the world of work, which is why it is important to do specialized studies that prepare you in a practical way, for example, such as the MBA.
University students, young professionals and those who are thinking of completing or turning their careers usually wonder whether it is convenient for them to study in a postgraduate program of this type. Normally having an MBA can be a great boost to work in large companies and greatly expand the circle of contacts that will open the door to the business world.
What does MBA mean?
The acronym MBA stands for Specialization in Business Administrationin Spanish it translates to Administration skills and is a type of master focused on business administration, its objective is the transmission of the knowledge necessary to be able to manage a company.
This is not just any master's degree, on the contrary, it is a very effective way to expand your professional horizon, establish contacts and even raise your salary expectations. Read on and find out more about what an MBA is and what it's for.
What is an MBA?
As mentioned above, an MBA is a master's degree that aims to strengthen and increase the knowledge and training of professionals in the field of finance and business management.
This program has a special focus on preparing professionals in:
- Business management and administration.
- Personnel leadership and effective communication.
- Management, planning and organization of business administration projects.
- Business strategies and digital marketing.
- Human resources management.
- Make sound administrative decisions.
The professional MBA graduate is trained to deal with the changing economic landscapes and direct the company in order to make it more competitive and increase quality levels in production and human resource management.
What is an MBA for?
If you are now wondering why study an MBA, all the benefits of completing these studies will probably convince you. Keep in mind that a study a master's degree in administration You will be trained to adequately practice the various areas that make up a company: sales, accounting, statistics, marketing and finance, logistics and human resources.
In addition, you will be able to find better employment and salary prospects, according to various studies, the salary increase for MBA students varies between 12 and 90%, depending on the institution where the training takes place and the country where you are located working.
Benefits of studying an MBA
According to testimonials from people who have completed an MBA, this type of study offers many personal and professional benefits. some of the most relevant advantages on:
- It helps develop soft skills such as problem solving skills, leadership, proactivity, analytical skills, creativity and teamwork.
- It will also equip you with difficult skills such as finance, marketing, economics, among others. Regardless of the area of knowledge you trained in or the field you work in, you will learn a lot about how a business works.
- The acronym MBA is internationally recognized, so including it on your CV will help you further your qualification.
Why study an MBA?
The main reason for studying an MBA is to acquire the knowledge necessary to manage and direct a company in all its areas; as in the MBA curriculum, you will find subjects aimed at strengthening these skills, regardless of the previous area of study you have.
These topics can be classified into three parts or areas:
- Analytical area: Here, you will learn about economic policy, operations research, business economics, statistics, quantitative analysis and accounting.
- Ethics area: You will study corporate social responsibility and business ethics.
- Functional area: You will learn the fundamental aspects of human resource management, finance, marketing and operations management.
It should be noted that a master's degree like this gives you the opportunity to meet other people in the business field. You will be able to network and continue to further your professional career.
Please note that at the EIA Universiade the MBA study mode is hybrid, i.e. a face-to-face meeting on Saturdays and a remote meeting during the week. If you are interested in learning about the ways in which you can do an MBA, we will explain it to you here.
Full time MBA
Full-time masters are designed for profiles with little professional experience or recent graduates. They usually last one or two years. The class schedule is Monday to Friday, so it's hard to combine it with a job.
Executive Masters MBA (EMBA)
This type of study is aimed at professionals who already have work experience, typically more than five years, and are therefore taught part-time, including weekend hours so that it is possible to combine studies with a job.
Global Executive MBA
In this case we are referring to a type of master similar to the previous ones, but with an international focus and character. They generally include stays abroad and part of the content in English.
How long is an MBA?
A few years ago, it was more common for MBAs to last for two years, however, over time, this period has tended to shorten somewhat. In the specific case of the EIA, the Administration skills in the VIA it lasts 3 semesters.
Know the requirements for studying an MBA
The MBA program is aimed at graduates and active professionals in any industry or branch of knowledge. Keep in mind that there is no specific entry profile, but people from different academic or professional backgrounds can enter.
Many HR specialists still see the MBA as one of the best training options to enter the job market in the best conditions.
As for the requirements, students who want to apply for an MBA are required, among other official documents, requirements such as:
- Official certificate of previous university qualifications.
- CV with verifiable work references.
- Letter of motivation in which he will explain the reasons that lead him to apply for the master's degree.
- Photocopy of university qualifications (diploma or degree certificate), issued by a higher education institution.
- Result of a current English test: with a minimum level (A2) and the type of test defined by the EIA Academic Council.
Furthermore, once all the documentation has been delivered to the EIA, an interview will be held in front of the admissions committee of the programme.
In general, those who already have work experience are more likely to be selected, although there are also other programs designed for university students or recent graduates.
Master in Business Administration: Its Origins
The origins of the MBA date back to the early 20th century. With the Industrial Revolution, companies began to require more management-related skills, and the Tuck School of Business, a subsidiary of Dartmouth University, was the first school in the United States and the world to offer these graduate studies.
One of the reasons for the success of this type of training is its learning by doing teaching method, in which students are often confronted with specific situations to propose solutions and discuss them with their classmates, which makes it possible to establish a link between theory and practice.
Start studying an MBA at EIA University
Now that you know what an MBA is and what it's for, go ahead and study at EIA University, one of the best for study an MBA in Colombia, a postgraduate course that trains professionals specialized in key administrative skills, able to deliver value to organizations with dynamic environments, in competitive and global markets. Contact us and find out more.
If you want to know other articles similar to Do you know what an MBA is and what it is for? you can visit the category MBA.